Opinion | The Capital One-Discover Deal Won’t Fix Our Broken Credit Card System

The deal will do nothing to fix policies that exacerbate the wealth gap and help big business get even bigger.

The New York Times

Here's an example: one especially pernicious form of junk fee is the "#SwipeFees" that credit-card companies charge merchants. In an increasingly cashless age, these companies - dominated by the #Visa/#Mastercard duopoly - have figured out how to scrape 3-5% out of *every single retail transaction in the entire fucking economy*.

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The Interchange Wars Are Back: Whither Card Rewards? http://www.mcgarvey.net/2023/07/11/interchange-wars/ #creditcards #rewards #Swipefees
The Interchange Wars Are Back: Whither Card Rewards? – McGarvey's Words: Journalist…Podcaster..Speaker